Chemours (NYSE:CC) Issues Quarterly Earnings Results

Chemours (NYSE:CC) released its quarterly earnings results on Thursday. The specialty chemicals company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.19), Briefing.com reports. Chemours had a net margin of 2.16% and a return on equity of 32.93%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $1.10 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis.

Chemours Price Performance

Shares of NYSE:CC traded down $2.77 during mid-day trading on Friday, reaching $20.54. The stock had a trading volume of 5,325,152 shares, compared to its average volume of 1,093,584. The business’s 50 day moving average price is $23.80 and its 200 day moving average price is $26.38. Chemours has a 1 year low of $15.10 and a 1 year high of $37.83. The company has a market cap of $3.06 billion, a P/E ratio of -9.47 and a beta of 1.80. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 5.26.

Chemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.87%. Chemours’s dividend payout ratio is presently -46.08%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BMO Capital Markets upgraded Chemours from an “underperform” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $34.00 in a research report on Tuesday, April 9th. Mizuho started coverage on shares of Chemours in a research report on Friday, June 7th. They issued a “neutral” rating and a $25.00 target price for the company. Finally, UBS Group raised Chemours from a “neutral” rating to a “buy” rating and increased their price objective for the company from $28.00 to $30.00 in a report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.38.

Chemours Company Profile

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.